SHIB outperformed Dogecoin and is now the best trading cryptocurrency, in this article complete guide on why you should buy Shiba Inu in 2022?. Shiba Inu is in a healthy environment, and its crypto futures trading function Shibarium is expected to provide it with even more advantages.
It is hard to ignore or disregard the US$2 trillion economy. However, the decentralized ecosystem has been offline for some time, causing digital token prices to plummet.
While the market as a whole appears to be in a downward spiral, Shiba Inu throws a bright light on cryptocurrency investors who have lost faith. SHIB is a meme coin that has been dubbed the “Dogecoin killer” due to its ability to surpass the most popular meme token in crypto futures trading.
Shiba Inu prices have dropped by 70% after reaching an all-time high in October last year. SHIB, on the other hand, is currently retaining a reasonable value compared to other digital tokens. With the launch of the metaverse and the release of the Shibarium upgrade, cryptocurrency speculators anticipate Shiba Inu will achieve new highs in the coming days.
According to Crypto Eye, a portal that compiles detailed statistics on Shiba Inu, the number of SHIB burned in August was 3.6 billion tokens. This stat brings the figure of SHIB burned over the summer to 12.67 billion tokens, or $154,507 in fiat equivalent. Only 589.62 trillion, or 59% of SHIB, remains from Shiba Inu’s total initial offering of 1 quadrillion.
- Shiba Inu (SHIB) Accepted Through NOWPayments POS Terminal
A point-of-sale terminal is a device that streamlines the processing of bitcoin payments. NOWPayments’ point-of-sale system is completely web-based, as opposed to competing PoS solutions that require physical hardware. It may therefore be used on a variety of gadgets, such as PCs and mobile phones.
- Companies have the option to pay their employees’ salaries in SHIB
By allowing businesses to pay their employees in SHIB, NOWPayments expanded support for SHIB. The NOWPayments Mass Payments system enables businesses to add SHIB wages and other types of mass Shiba payments.
- WAGMI Temple HUB in SHIB Metaverse sees the most “new” activity
According to its creators, the WAGMI Temple HUB will be a significant upgrade to the SHIB Metaverse. TTF and the Metaverse team are currently working on several HUBs, including this one. This HUB is intended to resemble a Zen-like environment in which users can experience relaxing sensations, meditate, and make “spiritual connections to the world.”
These are 3 factors that will cause the price of the Shiba Inu to explode in the near future, so if you want to invest in cryptocurrency with a small amount, then Shiba Inu is the best option for you.
In 2022, Analytics Research of crypto trading charts has compiled a list of ten grounds why you should become a Shiba Inu fanatic.
Celebrities and cryptocurrency fans have a big effect on the market. So far, it has sparked a global social media frenzy. Even though Musk has stated that he owns no SHIB, his ‘Floki Frankpuppy’ tweets can’t be ignored. The Shib Army goes nuts every time Musk tweets about a Shiba Inu dog, boosting SHIB’s price even higher.
- Price and supply are at an all-time high.
In general, supply and demand affect the price of cryptocurrencies. When it comes to Shiba Inus, there are plenty of tokens to meet the rising demand. Its total token circulation of 549 trillion provides the cryptocurrency with a tremendous boost.
- Penny Token is a character that plays the role of a penny.
While cryptocurrencies such as Bitcoin and Ethereum are priced at US$40k and US$3k, purchasing a single token may be a difficult effort for the average person. You can only acquire a tiny percentage of the tokens as a basic investor. On the other hand, even a single dollar will get you a large number of Shiba Inu tokens.
- Dogecoin Killer in the Making
The meme coin is a ‘Dogecoin killer,’ according to the Shiba Inu website. Despite the fact that SHIB was just recently added to the list of cryptocurrencies that are DOGE rivals, it proved to be one during the October price surge. For a brief period, SHIB outperformed Dogecoin and even into the best crypto to trade.
- In the early days, it showed its potential
There are almost 13,000 tokens in circulation in the much-loved cryptocurrency world. At least 50–100 new coins are issued every day. However, not every one of them is seen as a worthwhile investment by aficionados. Some altcoins, like Ethereum, benefit by delivering distinct technology from Bitcoin, whereas stablecoins, such as Tether, are prized for their consistency. SHIB, surprisingly, stands out in a unique way. Shiba Inu, like Dogecoin, has become a well-known meme coin that has demonstrated its potential since its inception.
- Shibarium Could Be a Game-Changer
Although Shiba Inu currently has a healthy environment, its crypto futures trading feature Shibarium is projected to give it even more benefits. Shibarium is an access layer solution that will enhance SHIB’s capabilities. More coins and cutting-edge blockchain technologies will be available in the expanded ecosystem.
- The Mysteries of the Founder
The mystery surrounding Satoshi Nakamoto’s identity has yet to be solved. Some experts, on the other hand, some experts believe that the mysterious creator is a crucial factor in Bitcoin’s growth. Under the moniker ‘Ryoshi,’ SHIB has likewise formed anonymously. There is no apparent evidence or trace of the SHIB creator, which adds to the cryptocurrency’s intrigue.
- FOMO (fear of missing out)
Many cryptocurrencies in the market become popular only after investors create a buzz about them. Fear of Missing Out (FOMO) is created as a result of the buzz, causing people to go insane for the tokens. Similarly, if SHIB experiences significant growth, investors go bongs on FOMO and purchase more tokens, causing Shiba Inu’s price to rise to new highs.
- ERC-20 Gives You an Advantage Over Dogecoin
Many people believe that SHIB is riding the Dogecoin growth wave. DOGE, on the other hand, gave Shiba Inu a boost in the beginning, but the meme coin went its own path after that. ERC-20, a component of SHIB that operates on the Ethereum blockchain, is a fantastic feature. SHIB gets to be a part of all the fantastic Defi initiatives since ETH is a trailblazer in decentralized finance.
- Trading News from Goldman
Shiba Inu fans have started an internet movement by signing a petition requesting that Goldman include SHIB in it. Shiba Inu’s price skyrocketed as a result of the movement’s popularity as the best crypto to trade. Despite the fact that SHIB has yet to be included in Robinhood’s trading portfolio, many other cryptocurrency exchanges have.
Additional Information on cryptocurrency trading.
Dogecoin is based on the same blockchain as Bitcoin. Both Dogecoin and Bitcoin employ a proof-of-work consensus process to validate transactions on their networks. However, Dogecoin may be a better choice for making everyday payments than Bitcoin because its transactions are completed faster and at a lesser cost.
Shiba Inu is an Ethereum-based cryptocurrency trading. ERC-20 tokens, such as Shiba Inu, are fungible tokens (as opposed to non-fungible tokens, or NFTs, which use the ERC-721 token standard). The Shiba Inu may use smart contracts to construct decentralised finance (Defi) products since the token is based on Ethereum.
Dogecoin, on the other hand, is not a carbon copy of Bitcoin. Dogecoin has a far greater circulating supply than Bitcoin, and cryptocurrency treading has no maximum limit. The supply of DOGE is significantly greater than Bitcoin’s 21 million maximum limit, with over 129 billion in circulation. Moreover, 10,000 Dogecoins are created every minute.
This year, the Defi sector has gained traction with tokens like Uniswap, yearn finance, and Aave seeing the price rise and increased adoption. To construct decentralized exchanges (DEX), lending protocols, and even interest-bearing accounts, these cryptocurrencies leverage smart contracts on the Ethereum blockchain.
Dogecoin’s main flaw is its lack of competitive advantages and distinction. Although its network is less expensive than Bitcoin or Ethereum, it is much more expensive than almost all other popular payment currencies, and it cannot expand as rapidly. In other words, there’s no compelling incentive for companies to accept DOGE as a method of payment.
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